Recherche
S'abonner
Connexion
Asset Management
Accueil Asset Management Actualités
27/05/2010
Fonds

Les hedge funds gèrent 2.700 milliards de dollars

Le secteur mondial des hedge funds gère plus de 2.700 milliards de dollars d’actifs, selon un sondage réalisé auprès des dépositaires et administrateurs pour HFM Week et relayé par le Financial Times. Il s’agit d’un montant bien supérieur aux estimations précédentes. Ce chiffre est néanmoins plus précis que ceux habituellement publiés, d’autant qu’il ne prend pas en compte le levier.
Fonds
27/05/2010
Fonds

Russell lance trois fonds en Italie

Selon Bluerating, Russell Investments a lancé en Italie trois fonds de multigestion qui permettent d’investir sur le marché américain : RIC US Small Cap Equity fund (actions petites capitalisations), RIC US Equity fund (grandes capitalisations) et RIC US Bond fund (obligataire).
Fonds
27/05/2010

BNY Mellon WM appoints a head of international wealth management division

BNY Mellon Wealth Management has tapped Peter Moertl to head its International Wealth Management division. He will divide his time between Europe and the United States, and will report to Donald J. Heberle, head of Family Office and International Wealth Management activities at the group. The Austrian Moertl was previously director of an independent wealth management consulting firm, Dr. Moertl Consult, which was founded in 2008 to advise private investors based in Switzerland and abroad in the acquisition of private banks and independent management firms. BNY Mellon Wealth Management manages nearly USD157bn in private assets.
27/05/2010

Share repurchase program at Legg Mason

The US management firm Legg Mason has announced the launch of an accelerated share repurchase program, totalling USD300m. The move comes as part of an authorisation by the directors of Legg Mason of a share repurchase program for up to USD1bn.
27/05/2010

State Street investor confidence index dips in May

The global investor confidence index calculated by State Street has fallen 11.2 points to 88.2, compared with a corrected level of 99.4 for April. A fall in investor confidence in North America is largely to blame for this decline, as the regional index fell by 5 points to a total of 98.3, compared with a corrected level of 103.3 the previous month. Among European investors, confidence is also down by 3.5 points, from 95.7 to 92.2. Asia, however, has maintained its confidence levels, as the regional confidence index has gained 6.8 points, to 101. “We have observed this month that institutional investors are continuing to considerably reduce their allocations to high-risk assets, in a trend which had already begun last month,” says Ken Froot, one of the two creators of the index. “As they did at the beginning of the subprime credit crisis in 2007, institutions have taken advance steps by reducing their risk from March levels, even though markets continued to rise. The sustained disengagement which we have observed this month is a sign of considerable uncertainty over the deficit levels in the Euro zone, and the repercussions that these might have worldwide.”
27/05/2010

German retail investors invest when times are tough on markets

A study published on Wednesday by the Deutsche WertpapierService Bank AG (dwp-bank) of 3.5 million transactions carried out between August 2008 and April 2010 has reached the surprising conclusion that there is a negative correlation between the propensity of German investors to invest in equities (the 160 shares of the Dax, MDax, TecDax and Sdax indexes) when these markets are performing strongly was particularly marked, says Karl-Martin im Brahm, head of distribution at dwp-bank. In fact, at the height of the crisis in fall 2008, German retail investors were net buyers of equities (with purchases 130% to 160% higher than sales between October and December 2008). Since Spring 2009, they have largely taken the rising markets as an occasion to sell, particularly as the Dax reached the 6000 point level. These data also show that German retail investors were able to react rapidly to intercurring fluctuations in the market, which proves that many of them very closely follow developments on the German stock markets.
27/05/2010

Assets up by nearly one quarter at Metzler AM

The German private bank B. Metzler seel. Sohn & Co. KgaA, presenting its 2009 results, has announced that assets at Metzler Asset Management as of the end of December totalled EUR37bn, which represents a 23% increase compared with their levels twelve months previously. Friedrich von Metzler, one of the two managing partners at the business, says that the increase in assets under management is largely due to a mandate from the Japanese Pension Fund Association, for European growth equities, and a mandate from Russell Investment for European small caps. Quantitative strategies represent assets of about EUR6bn, and volumes on the Metzler Fund Xchange platform as of the end of December for the first time topped EUR10bn.
27/05/2010

Hedge funds have USD2.7trn in assets under management

The global hedge fund industry has more than USD2,700bn of assets under management according to a survey of custodians and administrators calculated for a HFM Week Survey. This figure makes the industry far larger than most market participants have previously estimated, says the Financial Times. The estimate is a more accurate figure than those traditionally reported for the size of the hedge fund industry. It ignores any leverage in funds.
27/05/2010

Carlos Costales becomes head of sales for Spain at Swiss & Global

After overseeing the entry of Scottish Widows Investment Partnership (SWIP) into the Spanish market, beginning in 2007, Carlos Costales has joined Swiss & Global (an asset management affiliate of Julius Baer), as head of sales for Spain. He was previously a partner at Atlas Capital, in which Julius Baer owns a 28.6% stake, Funds People reports. Meanwhile, Atlas Capital has announced the resignation of Juan Ramón Caridad, who is also leaving his position as head of Swiss & Global. Caridad was part of the former Morgan Stanley management team which founded Atlas Capital six years ago.
27/05/2010

Russell releases three funds in Italy

Bluerating reports that Russell Investments has launched three multi-management funds in Italy, which will allow clients to invest in the US market: the RIC US Small Cap Equity fund (small cap equities), RIC US Equity fund (large caps), and RIC US Bond fund (bonds).
27/05/2010

Diamant Bleu Gestion and LFR launch a flexible SRI fund

Diamant Bleu Gestion and La Financière Responsable have teamed up to create a flexible diversified SRI fund, entitled Diamant Bleu Responsable. The two asset management firms will each contribute their expertise to the new product, which will be launched on Monday, 31 May: Diamant Bleu Gestion in flexible management, and LFR in socially responsible investment. Diamant Bleu Gestion, which is the manager of the fund, will provide asset allocation between various asset classes (money markets, bonds, and equities), global risk management, and management of the money market and bond allocations, while LFR will select SRI issuers from among all asset classes. It will also provide management of the equities allocation. Diamant Bleu Responsable, launched with EUR10m in seed capital contributed by two institutional investors, will be made available by its two “mother” companies to private clients, institutionals, and employee savings clients.
27/05/2010

French Parliament gives increased powers to AMF

Les Echos reports that the Finance committee of the French National Assembly on Tuesday evening approved a series of amendments to the banking and financial regulation bill. In the chapter on short-selling, an amendment which was unanimously approved now extends powers to the regulatory body AMF not only over completed transactions, but also over positions held by market actors. The identification of these positions will allow regulators to identify short positions and to suspend potential violators of bans. In order to further limit short-selling, legislators shortened the deadline for settlement of completed transactions by two days, to a maximum of one day after the transaction. They also extended the coercive powers of the market watchdog. The amendment multiplies the maximum fines the AMF has the power to hand out by a factor of ten, to EUR100m.
27/05/2010

SEC proposes creation of single database for market transactions

The Securities and Exchange Commission (SEC) on 26 May proposed the creation of a single database for all market transactions in the United States. The standardised and automated system would amass data from various participants, allowing regulators to very rapidly reconstruct the flow of orders on the market. The absence of such a system was highlighted by regulators as a reason that it was difficult to determine the exact cause of the brutal drop on the New York Stock Exchange on 6 May.
27/05/2010

Quel montant de pertes la BCE peut-elle absorber ?

Certains s’inquiètent du risque de faillite de la BCE, depuis qu’elle s’est auto-déclarée «acheteur en dernier ressort» des titres de dettes publiques et privées de la zone euro que le marché refuse. Ils peuvent se rassurer. Quelle que soit la qualité de l’actif sous-jacent et même avec un «junk bond» grec, l’Eurosystème ne réalisera aucune perte sur ses opérations de repo tant que les contreparties (les banques) ne sont pas elles-mêmes en cessation de paiement.
26/05/2010

RBS doit céder son activité de capital investissement européen

Royal Bank of Scotland (RBS) poursuit son programme de cession d’actifs, note l’Agefi qui précise que, de sources concordantes, l'établissement financier britannique aurait engagé des discussions exclusives avec le fonds de pension néerlandais Alpinvest Partners pour lui vendre un portefeuille européen de parts de fonds de capital investissement. Le montant de cette cession serait de l’ordre de 400 millions d’euros, ajoute le quotidien.
26/05/2010

PEH launches a “double strategy” anti-inflation fund

The German asset management firm PEH Wertpapier on 14 April launched the Luxembourg-registered fund PEH Inflation Linked Bonds Flexibel (LU0498681468, for P-class shares, and LU0498681898, for I-class shares), which may invest both in inflation-linked bonds and in conventional government bonds. The manager may actively manage allocation to the former class of assets in order to take advantage of the evolution of the market in all phases, without depending on the direction in which returns are evolving, while active management of duration allows the fund to profit from increases and decreases in interest rates. Characteristics Name: PEH Inflation Linked Bonds Flexibel ISIN: P shares, LU0498681468; I shares, LU0498681898 Minimal initial subscription: EUR2,500 (P); EUR1m (I) Minimal subsequent subscription: EUR250 (P); EUR1m (I) Front-end fee: 4% Management commission: 1% (P); 0.5% (I) Performance commission: 20% on performance exceeding the REXX-Government-Bonds-Performance-Index
26/05/2010

Kommalpha finds mixed results in first quarter for German funds

From the point of view of assetsunder management, German funds have overcome initial difficulties in first quarter, and their assets have increased continually from January onwards, rising to a total of EUR57.8bn. However, the Kommalpha agency notes, bond funds lost EUR1bn in assets in January-March, though they were down EUR5bn as of the end of January. The major beneficiaries were equities funds, with an increase in assets of EUR13.5bn; mixeded funds, with an increase of EUR8.8bn,and particularly institutional funds, with a leap of EUR28.3bn. For net subscriptions, mixed funds were the big winners in first quarter, with inflows of EUR5.4bn, followed by real estate funds (EUR3.2bn), while equities and bond funds posted net subscriptions of EUR2.3bn and EUR2bn. This means that most of the increase in assets in equities funds is due to positive market effects, which was also true to a lesser extent for diversified funds. However, bond funds arithmetically lost EUR3bn due to depreciation of their portfolios.
26/05/2010

Lazard AM Germany launches the LSDynamic fund

On 10 May, Lazard Asset Management (Germany) launched a German-registered long/short bond fund, the LSDynamic, which deploys an absolute returns strategy, using quantitative and discretionary strategies for the management of rates on the bond markets of Europe, the United Kingdom, Japan, Switzerland and the United States, investing at least 51% of its assets in investment grade bonds denominated in OECD currencies. The fund invests exclusively in bonds and derivatives denominated in Euros, US dollars, Japanese yen, pounds Sterling, or Swiss francs. Characteristics Name: LSDynamic ISIN: DE000A0RHKX8 Front-end fee: 3% Management commission: 0.8% Depository banking commission: 0.1%
26/05/2010

CESR backs accelerated reform of CDS markets

The Committee of European Securities Regulators (CESR) on 25 May announced in a statement that in the past few days it has intensified its coordination of market monitoring efforts, particularly in the wake of Germany’s decision to forbid naked short selling. The CESR also claims that “it is urgent to introduce structural reforms to improve the transparency, organization and functioning of bond and CDS markets, which are currently largely an over-the-counter market.” The CESR points out in this regard that it has a project underway to propose reforms, and invited the European Commission to move forward its calendar for reforms in this area.
26/05/2010

EUR130m increase in quarterly inflows to Euro zone mutual funds

In first quarter 2010, net inflows to Euro zone OPCVM funds (excluding money market funds) totalled EUR130bn, while transactions on money market funds resulted in a net outflow of EUR44bn, according to statistics published by the European Central Bank (ECB). Assets in OPCVM funds other than money market funds as of the end of March totalled EUR5.291trn, compared with EUR4.965trn as of December 2009.
26/05/2010

Convictions AM recrute un ancien de la Barep

Nicolas Gautier vient de rejoindre Convictions Asset Management pour développer sa clientèle de grands investisseurs (Institutionnels, Banques Privées, Family Offices).Agé de 35 ans, il travaillait précédemment chez Barep Asset Management en tant que commercial en charge de la clientèle française. Avant, il était chez Société Générale Corporate & Investment Banking.Convictions Asset Management, dont le groupe UFG détient 30 % du capital, est une société de gestion de portefeuille créée en 2008 par Philippe Delienne. Basée à Paris, la société compte 20 collaborateurs et gère plus de 700 millions d’euros.
26/05/2010
Fonds

OFI Reim et F&C Reit lancent un fonds dédié aux bureaux en France

OFI Reim and F&C Reit ont annoncé le 25 mai la création de Fosca II, qui vient d’être souscrit à hauteur d’environ 100 millions d’euros par des investisseurs institutionnels européens, compagnies d’assurances et fonds de pension.Fosca II succède à Fosca qui a réuni des investisseurs institutionnels pour plus de 200 millions d’euros en 2005 et 2006. Sa stratégie est de constituer un portefeuille diversifié d’immeubles de bureaux et commerces en France. De nouvelles souscriptions sont attendues en 2010 et 2011 pour atteindre un montant de 300 millions d’euros de fonds propres. Ceci permettra avec la part de dette prévue pour financer les acquisitions, de constituer un portefeuille d’environ 600 millions d’euros.
Fonds
26/05/2010

L'impact des actifs toxiques sera moindre à l'avenir pour la SocGen

Selon l’Agefi, qui cite les déclarations de Frédéric Oudéa, le patron de la Société Générale, lors de l’assemblée générale des actionnaires, l’impact des actifs toxiques, qui ont plombé la banque sera plus modéré à l’avenir qu’en 2008 et 2009. Le quotidien précise que les actifs toxiques, qui s'élèvent à 35 milliards d’euros, coûteront cette année à la banque entre 700 millions et un milliard d’euros.
26/05/2010

HSBC Trinkaus va augmenter son capital

Le directoire de HSBC Trinkaus & Burkhardt (T+B) a décidé mardi une augmentation du capital par l'émission en numéraire de plus de 2 millions d’actions à 75 euros l’unité sur la base d’une nouvelle pour treize anciennes, ce qui représente environ 150 millions d’euros. Cela permettra d’augmenter de 1,8 point le ratio de fonds propres qui se situait fin mars à 14,5 %, dont 10 % de fonds propres de premier rang hors titres hybrides (11,8 % avec ces titres).HSBC Germany Holdings, qui détient 78,6 % des parts, a l’intention de suivre l’augmentation de capital et d’acquérir les actions qui n’auraient pas été souscrites (la LBBW détient actuellement environ 20 % T+B).
26/05/2010
Fonds

Lazard AM Allemagne lance le LSDynamic

Le 10 mai, Lazard Asset Management (Deutschland) a lancé un fonds obligataire long/short de droit allemand, le LSDynamic qui suit une stratégie de performance absolue en utilisant des stratégies quantitatives et discrétionnaires pour les gestion de taux sur les marchés obligataires de la zone Europe, du Royaume-Uni, du Japon, de la Suisse et des Etats-Unis en investissant au minimum 51 % de son encours en obligations «investment grade» libellées dans une des monnaies de l’OCDE. Ce fonds investit exclusivement en obligations et en dérivés libellés en euros, en dollars américains, en yen, en livres ou en francs suisses.CaractéristiquesDénomination : LSDynamicCode Isin : DE000A0RHKX8Droit d’entrée : 3 %Commission de gestion : 0,8 %Commission de banque dépositaire : 0,1 %
Fonds

Sujets d'actualité

Tous les sujets